A SIMPLE SURVIVING TOOL KIT FOR THE ABSOLUTE BEGINNERS IN CRYPTOCURRENCIES

in #cryptocurrencies7 years ago

I have been so intense with this new concept of trading, and I have paid for my lessons too. That means to my survival, I have packed some tools for my continuous trades. Here they are:

  1. If you are really new, you have to read and understand. The sources are coinmarketcap.com, Youtube, Tweeter, and Google with proper keywords to update the news.
    For example, on December 12 Iistened to a video of a Youtuber and he mentioned Verge. I checked Verge on coinmarketcap.com to see its price (uptrend). I search on Google with its name and was led to Tweeter to see John McAfee's tweet. And boom! I bought in and planed to hold. Let's see if my decision is a good one in 2018.
  2. Don't jump in the market with a big bag of money when you are totally new and still get some "wave-sickness" due to the huge market and news of cryptocurrencies brand new millionaires. You should have some practices by investing small amounts of money first, to learn how to balance your emotions and learn to make better decisions later. Basically, it is your brain to learn. Opportunities in this new market are plenty, as there are so many teams who want to apply the new technology on real life and make money out of it.
  3. Check carefully before you buy. Though you can spot good coins or potential coins on the market, you sill have to check them in details. Read their website, check their team of developers, and their vision in the real-life tasks. If the coin can solve problems or create advantages for the community, and if it is still cheap, big news (or rumors) are around, then it is a good catch.
  4. Learn to read technical analysis to secure your purchasing order. If you don't know how to read simple indicators, you are likely to jump in to buy when it is hot, and burn yourself when the price goes down. So watch out technically!
  5. To start, you should consider to get your account on trading platforms ready- with cryptocurrencies.
  • If you are in the US, register coinbase.com, link your bank account to the account at https://www.coinbase.com/, buy Bitcoin or Etherium or Litecoin (some trading platform accept Litecoin as an alternative Bitcoin now ( I mean you can buy altcoins by Litecoin).
  • Transfer your BTC, ETH, LTC to other platforms which allow you to buy Altcoins. I likehttps://www.binance.com/ and https://www.cryptopia.co.nz/.

You are set ready to go! Good luck!!!bitcoin.png

Sort:  

yesss! ;)

Congratulations @bomo! You have completed some achievement on Steemit and have been rewarded with new badge(s) :

You published your First Post
You made your First Vote
You got a First Vote

Click on any badge to view your own Board of Honor on SteemitBoard.
For more information about SteemitBoard, click here

If you no longer want to receive notifications, reply to this comment with the word STOP

By upvoting this notification, you can help all Steemit users. Learn how here!

Congratulations @bomo! You received a personal award!

1 Year on Steemit

Click here to view your Board of Honor

Do not miss the last post from @steemitboard:

Saint Nicholas challenge for good boys and girls

Support SteemitBoard's project! Vote for its witness and get one more award!

Congratulations @bomo! You received a personal award!

Happy Birthday! - You are on the Steem blockchain for 2 years!

You can view your badges on your Steem Board and compare to others on the Steem Ranking

Vote for @Steemitboard as a witness to get one more award and increased upvotes!

Coin Marketplace

STEEM 0.22
TRX 0.26
JST 0.040
BTC 98409.57
ETH 3478.48
USDT 1.00
SBD 3.24